Thoughts on Saturday's Barron's

I predict that the market takes off for the rest of the year. Barron's had about a dozen reminders of the pessimism in the market despite it's pretty good year, and recent new highs. Here are some gems:

"the higher the market goes, the further it could fall"

"the NASDAQ is still at 2342"

"it will take the Dow 168 years to reach 36,000"

These statements of fear make me very confident in jumping into sectors and stocks that up til now I was very reluctant to. Take the tech sector. I almost considered Yahoo! (YHOO) after it dropped 20% earlier this year. It's come back since. Microsoft (MSFT) was another consideration at $24.00. It's now at $28.00

Today's pick is AMD. After subtracting cash from the share price, AMD is trading at 4.5 times cash flow. That's a 22% internal rate of return.